Institutional Property Advisors, a division of Marcus & Millichap Inc. specializing in serving institutional and major private real estate investors, recently sold Crossing Meadows, a 162,905-square-foot shopping center in Onalaska, Wisconsin.
The $16.3 million sales price equates to $100 a square foot.
“Our institutional platform, coupled with the private client reach of the Marcus & Millichap network, procured the perfect buyer for this multi-tenant retail asset,” said IPA senior director Erin Patton, the marketing team lead.
Patton, along with IPA senior directors Craig Fuller and Scott Wiles, represented the seller, an Ohio-based company. The buyer, a local developer, was procured by Patton, Fuller, Wiles and a team of retail investment property specialists in Marcus & Millichap’s Minneapolis office: senior associates Sean Doyle, Matthew Hazelton and Adam “AJ” Prins, and associate Cory Villaume.
The property is located at 1260 Crossing Meadow Drive in Onalaska, right off an exit from the interchange of Interstate 90 and U.S. Route 53. Crossing Meadows is anchored by Festival Foods and shadowed by Sam’s Club and Gander Mountain. Other major tenants include Hancock Fabrics, Rogan’s Shoes and Party City.